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Friday, 25 March 2022 03:03

VAT exemption for the purchase of improved seeds and agricultural inputs approved

Written by Evelyn Alas
VAT exemption for the purchase of improved seeds and agricultural inputs approved

With 75 votes, parliamentarians approved transitory provisions to free the Ministerio de Agricultura y Ganadería (MAG) from paying Value Added Tax (VAT) on the purchase of improved bean seeds, corn, agricultural inputs, transportation and logistics as part of the Family Agriculture Program and Agricultural Packages.

The deputy for Nuevas Ideas and president of the Agriculture Commission, Ricardo Rivas, expressed that the exoneration in the payment of this tax will allow more producers to have access to an agricultural package.

In 2021, the exoneration in the payment of this tax meant a saving of US$3,256,846 for the Agriculture portfolio.

This year, the institution delivered 88,000 quintals of corn, 394,557 quintals of fertilizer, 189,011 liters of fertilizer and 48,884 quintals of bean seed.

Budgetary reinforcement to the Ministry of Agriculture

The legislators also reformed the Budget Law 2022, in order to incorporate US$17,136,000 to the MAG to be used for the financing of the Agricultural Packages Delivery Program that the institution executes for the benefit of the population.

The initiative was presented by the head of the institution, Enrique Parada, who explained that these funds will increase the number of people who receive the inputs.

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